IBGL.L vs. 020Y.L
IBGL.L (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) and 020Y.L (iShares € Govt Bond 20yr Target Duration UCITS ETF) are both exchange-traded funds - IBGL.L is a Long-Term Bond fund tracking the Bloomberg Euro Government Bond 30 Year Term Index, while 020Y.L is a European Government Bonds fund tracking the Markit iBoxx EUR Eurozone 20yr Target Duration Index. Both are passively managed. Over the past 5 years, IBGL.L returned -8.28%/yr vs -11.00%/yr for 020Y.L. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
IBGL.L vs. 020Y.L - Performance Comparison
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Different Trading Currencies
IBGL.L is traded in GBP, while 020Y.L is traded in EUR. To make them comparable, the 020Y.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with IBGL.L having a -3.67% return and 020Y.L slightly higher at -3.58%.
IBGL.L
- 1D
- 0.54%
- 1M
- -4.50%
- 6M
- -4.09%
- YTD
- -3.67%
- 1Y
- -3.59%
- 3Y*
- -1.16%
- 5Y*
- -8.28%
- 10Y*
- -2.51%
020Y.L
- 1D
- 0.77%
- 1M
- -5.20%
- 6M
- -3.91%
- YTD
- -3.58%
- 1Y
- -6.01%
- 3Y*
- -4.16%
- 5Y*
- -11.00%
- 10Y*
- —
IBGL.L vs. 020Y.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBGL.L iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | -3.67% | -0.80% | -5.06% | 7.50% | -30.45% | -13.04% | 2.18% |
020Y.L iShares € Govt Bond 20yr Target Duration UCITS ETF | -3.58% | -6.25% | -9.18% | 5.70% | -32.90% | -14.63% | 0.40% |
Correlation
The correlation between IBGL.L and 020Y.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | 0.75 |
The correlation between IBGL.L and 020Y.L shifts across timeframes, from 0.74 (5 years) to 0.86 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBGL.L vs. 020Y.L — Risk / Return Rank
IBGL.L
020Y.L
IBGL.L vs. 020Y.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBGL.L) and iShares € Govt Bond 20yr Target Duration UCITS ETF (020Y.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IBGL.L | 020Y.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.93 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | -0.67 | +0.26 |
| Martin ratioReturn relative to average drawdown | -0.89 | -1.42 | +0.52 |
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Drawdowns
IBGL.L vs. 020Y.L - Drawdown Comparison
The maximum IBGL.L drawdown since its inception was -46.77%, smaller than the maximum 020Y.L drawdown of -51.97%. Use the drawdown chart below to compare losses from any high point for IBGL.L and 020Y.L.
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Drawdown Indicators
| IBGL.L | 020Y.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.77% | -51.97% | +5.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.65% | -8.99% | +0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -12.99% | -20.59% | +7.60% |
Max Drawdown (5Y)Largest decline over 5 years | -41.54% | -48.25% | +6.71% |
Max Drawdown (10Y)Largest decline over 10 years | -46.77% | — | — |
Current DrawdownCurrent decline from peak | -42.57% | -51.60% | +9.03% |
Average DrawdownAverage peak-to-trough decline | -14.73% | -36.90% | +22.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 4.25% | -0.23% |
Volatility
IBGL.L vs. 020Y.L - Volatility Comparison
The current volatility for iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBGL.L) is 2.86%, while iShares € Govt Bond 20yr Target Duration UCITS ETF (020Y.L) has a volatility of 3.49%. This indicates that IBGL.L experiences smaller price fluctuations and is considered to be less risky than 020Y.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGL.L | 020Y.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 3.49% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 7.57% | 8.47% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.45% | 11.39% | -1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.80% | 44.24% | -30.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.87% | 41.23% | -28.36% |
IBGL.L vs. 020Y.L - Expense Ratio Comparison
Both IBGL.L and 020Y.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBGL.L vs. 020Y.L - Dividend Comparison
IBGL.L's dividend yield for the trailing twelve months is around 3.81%, more than 020Y.L's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
020Y.L iShares € Govt Bond 20yr Target Duration UCITS ETF | 3.63% | 3.42% | 2.94% | 2.11% | 0.91% | 0.10% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBGL.L iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 3.81% | 3.48% | 3.23% | 2.65% | 1.28% | 0.55% | 0.73% | 1.28% | 1.48% | 1.32% | 1.41% | 1.78% |
Frequently Asked Questions
IBGL.L and 020Y.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBGL.L and 020Y.L have the same expense ratio: 0.15% per year.
IBGL.L is categorized as Long-Term Bond, while 020Y.L is European Government Bonds. IBGL.L tracks Bloomberg Euro Government Bond 30 Year Term Index, while 020Y.L tracks Markit iBoxx EUR Eurozone 20yr Target Duration Index.
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